7 Steps for Starting a Handyman Business in the Lake Wales Community
If you enjoy working hard, solving problems, and fixing things around the house, starting a handyman business could be your calling! Running your own handyman business will give you the flexibility to set your own rates and work as much or as little as you like. You’ll enjoy low startup costs, high profit margins, and a healthy dose of daily physical activity. What could be better? Here are some tips from the Lake Wales Area Chamber of Commerce to help you get your handyman business up and running!
Choose a Niche
First, you need to decide what services you’ll offer to customers. You could work as a jack of all trades, but picking a niche is where you’ll make the big bucks. Handyman Startup explains that it's often more profitable to specialize in a specific area. Choosing a niche will limit the tools and equipment you need to buy and make it easier to price your services. For example, you could specialize in fixture replacement, smart home installations, interior painting, power washing, or small appliance repair.
Structure and Register Your Business
Next, choose a structure for your business and register with your state. Forming an LLC for a handyman business is a great move. An LLC in Florida can offer personal liability protection from business risks, including potential lawsuits and overdue business debts. You may also gain tax advantages that can help your new business become more profitable. Consider forming your LLC through an online formation service to avoid lawyer fees.
Open a Business Bank Account
Registering your business will allow you to open a business bank account. Opening a business bank account will make it easier to prepare your taxes, apply for government funding, and automate your bookkeeping. Having a business bank account will also help you begin building business credit, which will come in handy if you want to take out a loan to grow your business.
Research Licenses and Permits
The licenses and permits you need for your handyman business will depend on your state, county, and city. You will have to do your own research to determine the industry requirements for your area. For example, many states, including California and Arizona, require handyman businesses to possess a general contractor license. Depending on your state, you may also need specialty licenses for electrical, plumbing, and mechanical work. Always seek professional advice before you open your doors.
Find Helpful Digital Tools
Business software will make it easier to run a one-person handyman business. Get set up with tools designed for bookkeeping, invoicing clients, creating estimates, scheduling projects, and processing credit cards. If you work with a team, you’ll also need team chat software and employee scheduling tools. It might be worthwhile to invest in full-service general contractor software that includes all of these helpful features in a single app.
Target the Right Customers
Marketing a handyman business is like marketing any other business. It’s important to target the right customers with your marketing to maximize your return on investment. WorkWave suggests targeting seniors and project management companies. You could even target real estate agents, home stagers, or people who own vacation rentals. Not only are these groups likely to require your handyman services, but they’re also well-positioned to refer you to other clients.
Get Testimonials
Offering testimonials from past customers can be a powerful tool for promoting your business. Not only can success stories from real customers help to boost your credibility, but by posting these stories publicly, you're also increasing the visibility of your business and building trust with potential customers. Testimonials are also relatively easy to obtain - you could simply send out surveys in an email or post content on social media asking customers to share their experiences with your product or service. Once you've obtained these testimonies, they can be compiled into one central location on your website and made available to those who are researching different businesses. Having a plan in place to use and highlight customer testimonials is a great way for businesses of all sizes to increase conversions and grow.
Launching a handyman business is a great way to put your DIY skills to good use. Start by choosing a specialty, then register your business as an LLC. Once you get these basic startup steps out of the way, you can start looking for business software and thinking up an effective marketing plan to get the word out to your target audience.
The Lake Wales Area Chamber of Commerce is devoted to helping our community members find entrepreneurial success. Join us today!
